What is MT5 Forex Broker?
MT5 Forex Brokers using and offering MT5 or MetaTrader5 platform for trading use as its trading software via Brokers execution venue. MT5 is now becoming more and more popular due to its high-grade capabilities, also overcoming by popularity MT4 platform, so many Brokers offering this software as its main base.
- Is important to note that MT5 is a third-party software for trading itself, while you need a broker still to be able to access and trader markets
- See some of our finds about MT5 advantages and disadvantages, while the disadvantages aren't much only might be a personal preference for the user:
|📈Trading Instruments||Forex, CFDs, Stocks, Futures|
|🔎Technical Analysis Tools||38|
What is MT5 Trading Platform?
MetaTrader5 or MT5 is a new evolution of the market-leading widely used MT4 platform developed by MetaQuotes that allows multi-asset enhanced trading features to Forex, Commodities and now also features Stocks and Futures too.
What are MT5 Platform benefits?
There are many benefits at MT5, as the platform represents all-in-one concept with impressive analytical tools, modern look, allowance to open hundreds of charts and perform analysis with advanced institutional grade features. See Infinox broker which also trades on MT5.
*MT5 Indicators & add-ons or plugins
One of the famous features of the MT5 platform, as we mark too is a great range of indicators and add-ons with various plugins designed to enhance trading capabilities. There is no limitation of indicators as the built-in MetaTrader MQL Market offers the widest place to purchase or rent technical indicators.
*MT5 EA & VPN
Well-known trading robots or Expert Advisors EAswe also found very enhanced in MT5, with copy trading capability specifically designed for MT5 and its advanced systems. Also, we admit one of the most powerful features – Algorithmic Trading based on next-generation MQL5 , also suitable for APIs, however good to know it is not compatible with MQL4 onn MT4. Besides, at MT5 VPN already included ro tun robots around the clock.
One more great feature is that MT5 allows easier backtesting and run of strategies, as the MT4 demand to run backtest via VPS or locally.
*MT5 Switch Brokers.
Likewise with MT4, you can switch brokers via MT4 platform , meaning to use the execution venue or broker but operate with your saved layouts or parameters set.
|MT5 Platform Advantages||MT5 Trading Disadvantages|
|Reliable and Widely used platform worldwide||Based on personal preference|
|Good Charting and Clear Design||Some tools might be complicated for beginners|
|Numerous Indicators and Add-ons||Programs, EAs and APIs for MT4 are not working on MT5|
|Automate Trading - EA|
|Backtesting to test strategies|
|All types of Trading Operations|
Top 5 Best MetaTrader (MT5) Brokers
Here is our list of Best MT5 Forex Brokers we select and shortlist as best in category, this list consists only of Regulated Brokers that are highly ranked and recommended to trade with and also provide MT5 as a Trading platform
Why Brokers use MT4 not MT5?
MT5 is a newer version with better look and more clear design, additional and more comprehensive tools compared to MT4.
However, MT4 still remains the most popular and used platform in the industry with the largest volumes
operated daily, also different EA Robots so many traders prefer to use MT4 still reflecting on
broker’s choice of the platform.
Brokers who use MT5?
Brokers who use MT5 platform may offer only MT5 or both MT4 and MT5 platforms, which is solely dependent on broker offering.
Is Trading on MT5 safe?
Trading on MT5 is safe if you use a reliable MT5 broker, it is not dependent on the MT5 since it is only the platform. Safety stands on the broker, so it is best to select broker with top-tier licenses for good adherence of safety and avoid offshore proposal since their regulation is not secure enough.